World equities sink as US and China exchange trade war salvos

World equities came under intense pressure Monday from new eruptions in the US-China trade war, while oil rallied on simmering tensions in the crude-rich Middle East. Equity investors began the day in underwhelming fashion in Asia, as the lack of a US-China trade deal jarred markets. Negative sentiment spilled over into Europe, and then to US markets where stock valuations slumped massively.